The Baltic Dry Index has risen due to an increase in Cape-size vessel shipping costs.

According to reports, the Baltic Dry Index rose on Tuesday, driven by an increase in capesize shipping rates. The Baltic Dry Index increased by 19 points, or 0.94%, to 2035 points. The capesize shipping rate index rose by 80 points, or 2.7%, to 3061 points. Capesize ships saw an increase in daily profit of $670, to $25,390. The Panamax ship index fell by 6 points, or 0.3%, to 1909 points. Panamax ships saw a decrease in daily profit of $50, to $17,182. These ships typically carry 60,000-70,000 tons of cargo, usually coal or grain. The Supramax bulk carrier index fell by 17 points, to 1329 points. The Handy size ship index rose by 3 points, to 678 points.